Hi, this is our first posting on this forum but probably not the last. I have just been made an offer by a bank to move and set up a branch in Geneva; we are a family with 3 kids and it is quite daunting but very exciting.
I have been reading quite a few postings about the high cost of living, housing and schools in the Geneva area; we would have to pay all of this ourselves including car etc. Probably there will be only one income. We would however consider public schools as the kids are young and I read and hear that a lot of foreigners send kids there and that public schools are really good.
Can someone guide us with regard to what is a good all-in market salary for a function of this level (and which would cover for our rent etc) in Geneva? I have 15 years of banking experience and would be manager of the branch.
Are there surveys/statistics on the salaries in the sector? What do you advise on health care? Should I try to negotatiate a private insurance? I know a lot of questions. Any guidance would be much appreciated. best regards
Based on your short description, I would clearly say it is at least 150kchf gross income.
If you are bank branch manager, you should get additional transport allowance, and school children allowance, say another 30k.
Therefore, my take on this is:
Your asking salary is between 180k (low) to 250kchf (high) is a good bet.
Under swiss laws, anything you receive will be taxable. Eg: if car or insurance paid by company FOR you, is also taxable from you. Unless it is special arrangement where company owns the car, and you only use it (not declared in your contract).
No, you're not... What are the market rates? I'm fascinated - as it's so hard to get decent info about what folk earn around here. I think it is actually against company rules to discuss "remuneration".
I'm in a nerdy sulk on discovering how much less I am worth than a bank manager .
WAY TOO LOW. I can tell you from inside information that a project manager at one of the large consulting companies in Zurich (BCG, Bain, McK) makes between 250-300k. That is with max. 5-7 years work experience, no real personnel management, no P/L responsibility. A senior manager makes between 300-450K and that is about the level at which I would expect someone who leaves to get a job like the one described by the OP.
Thanks everyone for the feedback so far. The offer they are making me is bang in the middle of the range HAT suggested in his reply; there would be a discretionary bonus as well if business runs well. I am negotiating now but I feel there is no way to get them to the higher market rates suggested. But I am tempted because it is a nice challenge to set up something. Drinks on me on arrival:-)